That would be my guess.....short covering moves the PPS higher, then when the limit sells orders are pretty much gone its time to work it back down. 

Hit and offer, hit and offer, hit and offer. 

RVX doesn't have much of a following...just a bunch of retail mutts who's resources are limited.  I could easily buy $10,000 of RVX....and even $25K if I wanted to extend myself a bit.  But that's 30K shares or so.....a deep pocketed hedge fund type can weather that storm quite easily, ride it out then walk it down when I'm done.  JMO of course.